June 20, 2012

GOLD Chart Analysis

  • Gold unable to trade above the resistance line and 100 Day SMA.
  • Fall will be bigger only if price breaks below 23.6% Fib level and the red support line shown in first chart.
  • Price is still in a contraction patter which is yet to be resolved. Closing above the resistance line can give big up moves in Gold. Opposite moves is also possible breakdown could test the crucial weekly support levels.

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